The number of Americans filing new applications for unemployment benefits fell to an 11-month low last week, pointing to a stable labor market, though a slowdown in hiring has led some laid-off workers to experience long bouts of joblessness.

Thursday’s report added to a recent raft of upbeat economic data, including consumer spending, in reinforcing the Federal Reserve’s projections for fewer interest rate cuts this year

Weekly jobless claims in the United States have fallen to an 11-month low, signaling a resilient labor market even as hiring activity slows. The decline underscores a steady pace of layoffs, reflecting broader economic stability,

The number of Americans filing new applications for unemployment benefits unexpectedly fell last week, pointing to a stable labor market at the start of the year though some laid-off workers are experiencing difficulties finding new jobs.